Dorian LPG (NYSE:LPG) Upgraded to Strong-Buy at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Dorian LPG (NYSE:LPG – Free Report) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday,Wall Street Zen reports.

A number of other research analysts have also commented on LPG. Weiss Ratings reissued a “buy (b-)” rating on shares of Dorian LPG in a report on Tuesday, August 25th. Freedom Capital upgraded shares of Dorian LPG from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $55.00.

View Our Latest Research Report on Dorian LPG

Dorian LPG Stock Performance

LPG opened at $54.10 on Friday. The business’s 50 day moving average is $53.86 and its 200-day moving average is $45.32. The stock has a market cap of $2.31 billion, a PE ratio of 7.17 and a beta of 0.57. The company has a current ratio of 3.26, a quick ratio of 3.24 and a debt-to-equity ratio of 0.28. Dorian LPG has a twelve month low of $23.76 and a twelve month high of $59.97.

Dorian LPG (NYSE:LPG – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The shipping company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.40. The business had revenue of $187.88 million during the quarter, compared to analyst estimates of $160.78 million. Dorian LPG had a return on equity of 25.69% and a net margin of 55.00%. The business’s revenue for the quarter was up 123.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.27 EPS.

Insiders Place Their Bets

In related news, CFO Theodore Young sold 11,919 shares of Dorian LPG stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $54.50, for a total transaction of $649,585.50. Following the transaction, the chief financial officer directly owned 107,794 shares of the company’s stock, valued at $5,874,773. The trade was a 9.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Alexander Hadjipateras sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $54.13, for a total transaction of $270,650.00. Following the completion of the sale, the chief operating officer owned 95,836 shares in the company, valued at approximately $5,187,602.68. This trade represents a 4.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 106,000 shares of company stock worth $5,455,849 over the last ninety days. Company insiders own 13.50% of the company’s stock.

Hedge Funds Weigh In On Dorian LPG

Several hedge funds have recently made changes to their positions in LPG. Dimensional Fund Advisors LP boosted its holdings in Dorian LPG by 3.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,549,771 shares of the shipping company’s stock worth $87,199,000 after buying an additional 73,754 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Dorian LPG in the first quarter valued at $11,929,000. Allspring Global Investments Holdings LLC lifted its position in shares of Dorian LPG by 227.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 215,568 shares of the shipping company’s stock valued at $7,247,000 after acquiring an additional 149,787 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Dorian LPG by 117.5% during the 1st quarter. Empowered Funds LLC now owns 197,030 shares of the shipping company’s stock valued at $6,738,000 after acquiring an additional 106,428 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Dorian LPG by 2,540.0% during the 1st quarter. Pacer Advisors Inc. now owns 190,446 shares of the shipping company’s stock valued at $6,513,000 after acquiring an additional 183,232 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

Dorian LPG Company Profile

(Get Free Report)

Dorian LPG Ltd. (NYSE: LPG) is a maritime transportation company that owns and operates liquefied petroleum gas (LPG) carriers. The company primarily transports propane, butane and other LPG products for energy companies, commodity traders and other commercial customers under time-charter, voyage-charter and other contractual arrangements.

Dorian LPG’s fleet is focused primarily on very large gas carriers (VLGCs), including modern, fuel-efficient vessels designed to transport LPG in large quantities over international trade routes.

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